ImmunoGen Inc. (NASDAQ:IMGN) shares dropped 3.4% during mid-day trading on Monday . The company traded as low as $3.07 and last traded at $3.09, with a volume of 846,705 shares trading hands. The stock had previously closed at $3.20.

IMGN has been the topic of a number of recent analyst reports. Cowen and Company reissued a “hold” rating on shares of ImmunoGen in a research note on Monday, June 6th. Leerink Swann lifted their price objective on shares of ImmunoGen from $8.00 to $11.00 and gave the company a “market perform” rating in a research note on Monday, May 2nd. Zacks Investment Research cut shares of ImmunoGen from a “hold” rating to a “sell” rating in a research note on Monday, July 4th. Cantor Fitzgerald reissued a “hold” rating on shares of ImmunoGen in a research note on Wednesday, June 8th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $7.00 price objective on shares of ImmunoGen in a research note on Thursday, May 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $12.59.

The firm’s market cap is $257.74 million. The firm has a 50 day moving average of $4.17 and a 200 day moving average of $7.31.

ImmunoGen (NASDAQ:IMGN) last posted its earnings results on Friday, April 29th. The biotechnology company reported ($0.37) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by $0.06. The business had revenue of $19.71 million for the quarter, compared to analyst estimates of $23.02 million. During the same quarter in the previous year, the company earned ($0.25) EPS. ImmunoGen’s quarterly revenue was up 72.4% on a year-over-year basis. Equities analysts forecast that ImmunoGen Inc. will post ($1.54) EPS for the current year.

Other hedge funds recently bought and sold shares of the company. Pinnacle Associates Ltd. boosted its stake in ImmunoGen by 44.6% in the fourth quarter. Pinnacle Associates Ltd. now owns 1,768,359 shares of the biotechnology company’s stock valued at $23,997,000 after buying an additional 545,784 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its stake in ImmunoGen by 91.3% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 227,703 shares of the biotechnology company’s stock valued at $3,090,000 after buying an additional 108,703 shares during the period. Oxford Asset Management bought a new stake in ImmunoGen during the fourth quarter valued at $2,359,000. California State Teachers Retirement System boosted its stake in ImmunoGen by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 159,672 shares of the biotechnology company’s stock valued at $2,167,000 after buying an additional 2,537 shares during the period. Finally, Rhumbline Advisers boosted its stake in ImmunoGen by 7.1% in the fourth quarter. Rhumbline Advisers now owns 93,829 shares of the biotechnology company’s stock valued at $1,273,000 after buying an additional 6,255 shares during the period.

ImmunoGen, Inc (ImmunoGen) is a clinical-stage biotechnology company focused on the development of targeted anticancer therapeutics. The Company’s clinical and preclinical product candidates are antibody-drug conjugates (ADCs), which is a type of medicine that uses a monoclonal antibody to deliver a therapeutic agent to targeted cells.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.